Westpac
Statutory Trust account
Our Statutory Trust Accounts help you comply with statutory requirements.
Trust accountsBank updated 1 Apr 2026
At a glance
- No headline figures published.
§ 02 — Fees · 11
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Self-Service (Electronic) Deposits | Deposit | No fee | — | — |
| Staff-Assisted Deposit | Deposit | $3 | — | — |
| Cheques Collected / Deposited | Event | $3 | — | — |
| Cheques Written | Event | $3 | — | — |
| Overdrawn Fee | Event | $15 | — | $15.00 per occurrence |
| Account Keeping Fee | Periodic | No fee | Every 1 mo | — |
| Group Telephone Banking | Transaction | No fee | — | — |
| Online Banking | Transaction | No fee | — | Account enquiries are always free when you use Online Banking. |
| Periodical Payments | Transaction | No fee | — | — |
| Self-Service (Electronic) Withdrawals | Withdrawal | No fee | — | — |
| Staff-Assisted Withdrawal | Withdrawal | $3 | — | — |
§ 03 — Features
Guarantor optionDigital bankingFraud protection
- · If your business is a solicitor?s office, real estate agency, collection agent (QLD), conveyancer or settlement agent (WA), you may be required by law to deposit funds held on behalf of your clients,…
- · Helps you comply with statutory requirements when holding clients? funds in trust
- · Statutory Trust for Real Estate Agents account is suitable for real estate agents (in all states) and collection agents (in Queensland)
- · Statutory Trust for Solicitors account is suitable for solicitors
- · Statutory Trust for Conveyancers and Settlement Agents account is suitable for conveyancers (all states) and settlement agents (in Western Australia)
§ 04 — Eligibility & limits
- · Minimum age 18
- · Operating in Australia with an Australian address
- · Must be a member of a professional association and required by law to deposit funds held on behalf of clients in statutory trust accounts
- · Needs an eligible business transaction account from which fees and charges can be debited.
Published by Westpac under the Consumer Data Right, last changed by them on 1 Apr 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.